OM:HOVD

Stock Analysis Report

Executive Summary

Hövding Sverige AB (publ) develops, manufactures, and sells airbag helmets for bicycles in Sweden, Japan, and other European countries.

Risk Analysis

Earnings have declined by -7.99% per year over past 5 years

Has less than 1 year of cash runway

Shareholders have been substantially diluted in the past year

Currently unprofitable and not forecast to become profitable over the next 3 years

+ 2 more risks


Snowflake Analysis

Adequate balance sheet with weak fundamentals.

Share Price & News

How has Hövding Sverige's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HOVD's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.4%

HOVD

3.6%

SE Leisure

2.1%

SE Market


1 Year Return

31.4%

HOVD

28.1%

SE Leisure

24.5%

SE Market

Return vs Industry: HOVD exceeded the Swedish Leisure industry which returned 28.2% over the past year.

Return vs Market: HOVD exceeded the Swedish Market which returned 25.5% over the past year.


Shareholder returns

HOVDIndustryMarket
7 Day-5.4%3.6%2.1%
30 Day-13.9%3.6%2.7%
90 Day-25.4%21.6%8.6%
1 Year31.4%31.4%32.7%28.1%29.7%24.5%
3 Year45.1%9.3%86.8%63.2%40.8%19.2%
5 Yearn/a125.8%95.9%58.0%24.1%

Price Volatility Vs. Market

How volatile is Hövding Sverige's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Hövding Sverige undervalued compared to its fair value and its price relative to the market?

33.02x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate HOVD's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate HOVD's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: HOVD is unprofitable, so we can't compare its PE Ratio to the Leisure industry average.

PE vs Market: HOVD is unprofitable, so we can't compare its PE Ratio to the Swedish market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HOVD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HOVD is overvalued based on its PB Ratio (33.4x) compared to the SE Leisure industry average (2.4x).


Next Steps

Future Growth

How is Hövding Sverige forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

14.8%

Forecasted Consumer Durables industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Hövding Sverige has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Hövding Sverige performed over the past 5 years?

-8.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HOVD is currently unprofitable.

Growing Profit Margin: HOVD is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: HOVD is unprofitable, and losses have increased over the past 5 years at a rate of -8% per year.

Accelerating Growth: Unable to compare HOVD's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HOVD is unprofitable, making it difficult to compare its past year earnings growth to the Leisure industry (-5.6%).


Return on Equity

High ROE: HOVD has a negative Return on Equity (-400.41%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Hövding Sverige's financial position?


Financial Position Analysis

Short Term Liabilities: HOVD's short term assets (SEK55.7M) exceed its short term liabilities (SEK39.2M).

Long Term Liabilities: HOVD's short term assets (SEK55.7M) exceed its long term liabilities (SEK9.7M).


Debt to Equity History and Analysis

Debt Level: HOVD is debt free.

Reducing Debt: HOVD has not had any debt for past 5 years.


Balance Sheet

Inventory Level: HOVD has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if HOVD's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: HOVD has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: HOVD has less than a year of cash runway if free cash flow continues to grow at historical rates of 0.9% each year.


Next Steps

Dividend

What is Hövding Sverige's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.6%markettop25%4.4%industryaverage2.5%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate HOVD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate HOVD's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HOVD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HOVD's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HOVD's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

What is the CEO of Hövding Sverige's salary, the management and board of directors tenure and is there insider trading?

5.5yrs

Average board tenure


CEO

Fredrik Carling (48yo)

8yrs

Tenure

0

Mr. Fredrik Carling has been the Chief Executive Officer at Hövding Sverige AB since 2012. Mr. Carling served as the Chief Executive Officer of the Nordic Operations at Diesel Sweden AB. He served as a Dir ...


Board Age and Tenure

5.5yrs

Average Tenure

54yo

Average Age

Experienced Board: HOVD's board of directors are considered experienced (5.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Sellkr46,48217 May 19
Heino Wendelrup
EntityIndividual
Shares1,999
Max Pricekr23.30

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 50.5%.


Management Team

  • Fredrik Carling (48yo)

    Chief Executive Officer

    • Tenure: 8yrs
  • Torbjörn Gärdenfors (54yo)

    R&D and Operations Manager

    • Ulf Sellergren (64yo)

      Chief Research and Development Officer

      • Per Ågren (53yo)

        Chief Sales Officer

        • Anna-Katarina Skogh

          Chief Marketing Officer

          • Anna Brandt

            Chief Financial Officer


            Board Members

            • Örjan Johansson (59yo)

              Chairman of the Board of Directors

              • Tenure: 10yrs
            • Samir Mastaki (37yo)

              Director

              • Tenure: 6yrs
            • Lennart Gustafsson (71yo)

              Director

              • Tenure: 9yrs
            • Christer Ljungberg (64yo)

              Director

              • Tenure: 5yrs
            • Johan Larsson (49yo)

              Deputy Director

              • Tenure: 5yrs
            • Sofia Ulver (48yo)

              Director

              • Tenure: 5yrs
            • Peter Svanlund

              Board member

              • Amanda Evans

                Board Member

                Company Information

                Hövding Sverige AB (publ)'s company bio, employee growth, exchange listings and data sources


                Key Information

                • Name: Hövding Sverige AB (publ)
                • Ticker: HOVD
                • Exchange: OM
                • Founded: 2005
                • Industry: Leisure Products
                • Sector: Consumer Durables
                • Market Cap: kr484.614m
                • Shares outstanding: 22.28m
                • Website: https://www.hovding.com

                Number of Employees


                Location

                • Hövding Sverige AB (publ)
                • Bergsgatan 33
                • Malmö
                • Skåne County
                • 214 22
                • Sweden

                Listings

                TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
                HOVDOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKJun 2015
                HS4DB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2015
                0GB4LSE (London Stock Exchange)YesCommon SharesGBSEKJun 2015

                Biography

                Hövding Sverige AB (publ) develops, manufactures, and sells airbag helmets for bicycles in Sweden, Japan, and other European countries. It offers its products through retailers and distributors, as well as online. The company was founded in 2005 and is headquartered in Malmö, Sweden. 


                Company Analysis and Financial Data Status

                All financial data provided by Standard & Poor's Capital IQ.
                DataLast Updated (UTC time)
                Company Analysis2020/01/19 21:51
                End of Day Share Price2020/01/17 00:00
                Earnings2019/09/30
                Annual Earnings2018/12/31


                Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.